SGX Nifty said the stock benchmark would likely open weaker on Friday, quoting 60 points below Thursday’s close of 17,830.

During Friday’s trading session amid subdued global sentiment, domestic markets will likely remain subdued during Friday’s trading session.

Globally, US stocks were slightly lower overnight. Major indexes, including the Dow Jones, S&P 500 and Nasdaq Composite, fell 1%.

Meanwhile, Asia Pacific markets were mixed this morning ahead of the release of Chinese inflation data.

Adani group stocks: Following the review, global index provider MSCI said it would reduce the weight of some Adani Group shares. Changes will be effective from March 1, 2023. MSCI said late on Thursday that it had cut the free float of four companies in the Adani Group: Adani Enterprises, Adani Total Gas, Adani Transmission and ACC, according to the Financial Times. The cut would reduce the weight of those stocks in MSCI’s closely watched index, triggering outflows.

MSCI rejig: Following the latest adjustment, the Bank of Baroda will be included in the MSCI Global Standard Index. CG Power and Shriram Fin will be added to the India index, while Biocon will be removed from the India index and added to the smallcap index.

LIC: State-owned Life Insurance Company (LIC) reported a doubling of its net profit for the December quarter of the 2022-23 fiscal year (Q3FY23), helped by a transfer of Rs 5,670 crore from non-participating shareholders’ accounts. Its net profit for the third quarter was Rs 6,334.19 crore, compared to Rs 234.91 crore in the same period last year.

Zomato: The restaurant aggregator’s loss widened to Rs 346.6 crore in the quarter ended December (2022-23, or FY23), compared to Rs 63.2 crore in the same period of the previous financial year (FY21-22). The food delivery giant reported a net loss of Rs 250.8 crore in Q2FY23.

GAIL: State-run GAIL (India) Limited has entered into an Advance Pricing Agreement (APA) with the Central Board of Direct Taxes (CBDT) to determine the transfer pricing bond payable on its long-term LNG purchase contract from the US for five years.

Aurobindo Pharma: Aurobindo Pharma Limited on Thursday said its consolidated net profit for the quarter ended December 31 fell 18.7% to Rs 491.2 crore from Rs 604.3 crore in the third quarter of fiscal 2022. Operating income rose 6.7% to Rs 6,407.10 crore in the quarter, compared to Rs 6,002.2 crore in the corresponding quarter of the previous fiscal.

Hindustan Petroleum Corporation: The oil marketing company has turned profitable with a net profit of Rs 172.4 crore in Q3FY23, compared to a loss of Rs 2,172 crore in the previous quarter, with better operating results. Standalone revenue increased by 1% to Rs 1.09 lakh crore compared with last year.

Mahindra & Mahindra: M&M has signed a memorandum of understanding with the Telangana government to expand its existing manufacturing facility at the Zaheerabad factory. The company will invest around Rs 1,000 crore over eight years for the proposed expansion. The expansion will include 3,4-wheeler electric vehicle manufacturing.

NTPC: NTPC Green Energy has signed a memorandum of understanding with HPCL to develop projects based on renewable energy.

Varun Beverages: Promoters are reportedly looking to sell shares worth Rs 850 crore in block deals today. They may offer discounts of up to 5-7%.

ITC: Subsidiary ITC Infotech India incorporated a wholly owned subsidiary ITC Infotech France SAS, in France. As a result, ITC France has gradually become a wholly-owned subsidiary of ITC.

Pfizer: The drugmaker reported a 4.7% year-on-year rise in profit to Rs 150.66 crore for the three months ending December 2023, driven by solid operating results. Still, operating income fell 8% year-on-year to Rs 621.75 crore for the quarter. The company has appointed Meenakshi Nevatia as managing director and additional director for a five-year term.

Voltas: Voltas Ltd on Thursday reported a consolidated net loss of Rs 110.49 crore for the third quarter that ended December 2022 due to provisioning for overseas projects. In a regulatory filing, Voltas said that the Tata group of companies posted a consolidated net profit of Rs 96.56 crore in the October-December quarter of the last financial year. Its operating income rose 11.82% to Rs 2,005.61 crore in the quarter, compared to Rs 1,793.59 crore a year earlier.

Greaves Cotton: In batches, the company will acquire a 100% equity stake in Excel Controlinkage, a motion control system manufacturer.